Washing Machine Market to Record a CAGR of 7.93% Over 2024-2032; Expansion of Hotel Industry and Increasing Number of Laundromats to Augment Market Growth

The washing machine market size was valued at USD 65.44 billion in 2023 and is predicted to reach USD 69.28 billion in 2024. The market is anticipated to touch USD 127.62 billion by 2032, recording a CAGR of 7.93% over 2024-2032.

Fortune Business Insights™ presents this information in its latest report titled “Washing Machine Market Size, Share & Industry Analysis, By Product (Fully Automatic {Front Load and Top Load}, Semi-Automatic, and Dryer), By Capacity (Below 5 Kg, 5-7 Kg, and Above 7 Kg), and Regional Forecast, 2024-2032”.

Washing machines are quickly becoming an integral part of homes and commercial spaces, such as hospitals, luxury resorts, hotels, and laundromats to clean a wide range of clothes and fabrics effectively. Factors, such as large-scale urbanization and rise in disposable income are playing key role in boosting the demand for these home appliances. Moreover, several key manufacturers are incorporating innovative features into their products, which will further boost their sales.

The COVID-19 pandemic hampered the washing machine market growth as key manufacturers faced several supply chain disruptions, which restricted their ability to meet their annual production targets. Moreover, the closure of retail stores reduced the average footfall of customers, which further impeded the product demand.

Bosch Introduced Digital Campaign for New Automatic Dryers

Bosch, a German home appliance company, announced the launch of a new digital campaign, titled ‘Zero Effort, 100% Drying’. This campaign highlighted the key benefits of the company’s automatic dryers. It showed how basic household chores like drying can be made more convenient with the help of automation.

Expansion of Hotel Industry and Increasing Number of Laundromats to Augment Market Growth

The hotel and hospitality industries are witnessing robust expansion every year, especially after the COVID-19 pandemic as governments opened up their domestic and international borders to facilitate travel and trade. Since then the number of travelers staying at hotels has increased considerably, the demand for washing machines has also grown at a commendable rate. In fact, the adoption of these machines with advanced features is rising among hotel owners as these appliances can significantly ease the process of washing large volume of clothes and a wide range of fabrics.

However, the high cost of technologically advanced washing machines can hinder their sales.

Key Market Players to Focus On Launching Products With Advanced Features to Stay Ahead of Competition

Some of the key players operating in the washing machine market include Bosch, Panasonic Corporation, Samsung Electronics, Whirlphool, and Electrolux AB. These companies are boosting their investments in various research & development initiatives to develop and launch products that are integrated with advanced technologies. Moreover, they are also collaborating with other companies to expand their market share and stay ahead of competition.

Notable Industry Development:

• April 2023 –  Robert Bosch, a German engineering firm, launched its new series 8 product range, which included washing machines and dryers that use the i-DOS technology and can automatically decide the volume of detergent and softener required for washing. These machines clean clothes effectively with the help of innovative wash settings, including Anti-Stain Plus System, Hygiene Plus, and Iron Assist.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/washing-machine-market-102645

List of the Companies Profiled in the Report:

• Whirlpool Corporation (U.S.)


• Samsung Electronics (South Korea)


• LG Electronics Inc. (South Korea)


• Electrolux AB (Sweden)


• Haier Smart Home Co. Ltd. (China)


• Godrej Industries Ltd. (India)


• IFB Industries Ltd. (India)


• Panasonic Holdings Corporation (Japan)


• Mirc Electronics Limited (India)


• BSH Hausgeräte GmbH (Germany)

Further Report Findings

• Asia Pacific held a dominant global washing machine market share in 2023 due to factors, such as growing focus on a convenient and modern lifestyle and rising disposable income of customers. Moreover, the percentage of the region’s urban population is increasing, further propelling the product’s sales.


• North America is also expected to display commendable growth during the forecast period as the concept of smart homes is gaining immense traction in countries, such as the U.S. and Canada. Moreover, the growing number of tech-savvy customers in the region will also boost the demand for smart washing machines in the region.


• Based on product, the fully automatic segment dominated the global market in 2023 as these machines have a wide range of smart features, such as water level sensing and programmable or adjustable wash settings. These features can significantly decrease users’ effort and time while washing clothes.

Table of Segmentation